We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
life after bankruptcy, what now?
horizonlady
Posts: 1 Newbie
I am married with 5 children and studying at university to become a qualified counsellor in just over 1 year. i was discharged from bankruptcy in april this year and so was my husband. my husband is currently on disability benefits and i am on student finance. i hope to one day own my own home how can we get on the right track now.to one day have a mortgage. Thanks 
0
Comments
-
Hi & welcome,
There are lenders that will lend to discharged bankrupts however the loan-to-value (LTV - ie the % between the loan amount & the value of the property) will be affected & any lender will require a very large deposit...25-50% would be typical.
Mortgage applications will always ask `have you ever been declared bankrupt` so, even if you are outside the 6 years marker on your credit report, you will still need to disclose that fact.
My advice (having been a mortgage advisor for 10 years) would be to get saving & make sure you clean up your credit report .
Good luck with your studies.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards